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What you mean by gross pay and net pay?


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Answered 2010-08-26 16:33:08

gross pay= the amount a person is entitled to

net pay= the amount a person is given after the deductions of different taxes and insurances.


Related Questions

Gross pay is pay before taxes have been deducted were net pay is after taxes.

are garnishments calculated by gross pay or net pay

Gross pay is almost always greater than net pay, as net pay is after taxes, benefits, etc. Gross pay is what the company tells you that they will pay you. Net pay is what you actually take home.

Gross pay is what you make before any deductions. If a job is advertised at $30,000 a year, then that's the gross pay. Net pay is what's left after taxes, health benefits and other deductions are taken out of your check. So gross pay of $30,000 would become something like net pay of $22,564.

gross pay: the amount made before taxesnet pay: the amount after subtracting taxes and benefit from your gross pay

Gross pay total amount of earnings for the time period. Less all of the necessary withholding that will have to withheld from the gross amount then you paycheck will be issued to you for your net pay. Net paycheck take home pay.

It is taxes and benefits.Gross pay - taxes + benefits = net pay.

Gross pay is a persons pay that is including overtime, allowances and bonuses. Net pay is when it is totaled together and subtracting the gross pay from it.

Net pay = gross pay - deductions. Or in percentages: Net pay = gross pay x (1 - percentage of deductions / 100) If you have any two of these, you can solve the third. For example, in the last formula: gross pay = net pay / (1 - percentage of deductions / 100)

No ... Net pay is what you get to take home after taxes. Gross pay is your salary before taxes.

The difference between gross pay and net pay is that gross pay is the amount that you receive before tax deductions and pay net is the money you take home after all the tax deductions

The wages you earn are your gross pay. After taxes and everything else is removed from your paycheck, what remains is your net pay.

Generally, take home pay is net pay.

No, net pay is your take home pay after taxes and other deductions

Look it up..... You have to read something in order to answer something... Duuhhh.... But its gross pay is net pay minus deductions.

Gross pay is calculated before taxes are taken into consideration where net pay is the amount of money you make after tax.

the pay before taxes net pay is after taxes

Gross. It's what you earn before any deductions.

If looking at your pay stubs, you gross pay represents your total pay before taxes. The net pay is your pay after taxes.

You pay tax on your adjusted gross income. This is not quite the same thing as gross income, but it's definitely not net either.

Gross and net pay for hairdressers

The amount you take home. Net pay is the gross pay less all deductions.

Gross pay amount is without any deductions while net pay amount is after adjusting the required tax or other deductions.

If you take gross pay and take out taxes and fees you are left with net pay.

Your net pay is what you get after you take out all of your expenses like taxes and insurance.My net pay is lower than yours.Taxes are based on your net pay.What will my net pay be on the new job?

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